Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994
E87145
The Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 is a U.S. federal law that deregulated interstate banking by allowing bank holding companies and banks to expand and operate branches across state lines, reshaping the national banking landscape.
Statements (47)
| Predicate | Object |
|---|---|
| instanceOf |
United States federal law
→
banking law → |
| allows |
interstate acquisition of banks by bank holding companies
→
interstate branching by banks → |
| alsoKnownAs |
Riegle-Neal Act
→
|
| amends |
Bank Holding Company Act of 1956
→
Federal Deposit Insurance Act → |
| appliesTo |
FDIC-insured banks
→
national banks → state-chartered banks that are members of the Federal Reserve System → |
| citation |
108 Stat. 2338
→
|
| containsProvision |
branching across state lines through mergers
→
community reinvestment and consumer protection standards for interstate banks → host state law applicability to interstate branches → interstate bank mergers → |
| country |
United States
→
|
| dateEnacted |
September 29, 1994
→
|
| effect |
deregulation of interstate banking restrictions
→
facilitation of nationwide banking organizations → preemption of many state barriers to interstate branching → |
| enactedBy |
United States Congress
→
|
| historicalContext |
followed savings and loan crisis reforms of the late 1980s and early 1990s
→
|
| impact |
accelerated consolidation in the U.S. banking industry
→
reduced importance of state geographic restrictions on banking → reshaped U.S. banking structure toward nationwide institutions → |
| jurisdiction |
United States
→
|
| language |
English
→
|
| legislativeBody |
103rd United States Congress
→
|
| limits |
concentration of banking resources through deposit caps
→
|
| namedAfter |
Alfonse M. D'Amato (Neal reference is sometimes associated with Rep. Stephen L. Neal)
→
Donald W. Riegle Jr. → |
| objective |
enhance safety and soundness of the banking system
→
increase efficiency of banking organizations → promote competition in banking markets → |
| permits |
nationwide banking networks subject to certain conditions
→
|
| primarySubject |
branch banking
→
interstate banking → |
| publicLawNumber |
Public Law 103-328
→
|
| regulates |
bank holding companies
→
commercial banks → |
| relatedTo |
Gramm-Leach-Bliley Act of 1999
→
McFadden Act of 1927 → |
| requires |
compliance with Community Reinvestment Act for interstate expansion
→
|
| signedBy |
Bill Clinton
→
|
| subjectArea |
bank supervision
→
financial regulation → |
| yearEnacted |
1994
→
|
Referenced by (3)
| Subject (surface form when different) | Predicate |
|---|---|
|
Community Reinvestment Act
→
|
amendedBy |
|
Donald W. Riegle Jr.
→
|
notableWork |
|
Donald W. Riegle Jr.
→
|
sponsored |